He said the accounts - 43 company and 48 individual - were with eight different banks.

During a press conference at the ministry offices here Wednesday, Roslan confirmed that the accounts were connected to MBI.

However, he said it was too early in the investigation process to reveal the names of the account holders.

Six premises in the Klang Valley and Penang were raided, and authorities seized documents related to the business, information on transactions, computers, branded goods, gold bars and jade jewellery.

On Monday, enforcement officers from various agencies raided the M Square logistics centre in Kuala Lumpur and the M Mall shopping complex in Penang where shoppers use loyalty reward points in exchange for goods.

The raid, led by officers from the ministry, included police and personnel from the Companies Commission of Malaysia, CyberSecurity Malaysia and Bank Negara.

MBI International was recently red-flagged by Bank Negara for having a questionable financial scheme.

Members put money into the scheme and get virtual coins in return. After an incubation period of over a year, they can convert these coins into points to spend in several services and retail establishments under the MBI umbrella, such as M Mall.

The scheme is said to give substantial returns each year and this is believed to be the longest-running financial scheme founded in Penang.

Hauled away: KPDNKK enforcement officers removing boxes of documents from the MBI Group International office in Ampang.

AMPANG: Enforcement team from various agencies raided a store where shoppers convert their loyalty points in exchange for goods and services.

The team of 32 officers raided the M Square logistics centre, which is part of financial scheme operator MBI Group International, at around 11am yesterday.

The operation ended at about 7pm.

The logistics centre is located in Jalan Avenue 1 here.

The centre sells various products such as water purifiers, instant coffee, remote controlled cars and boats, powerbanks, massage chairs, watches, pens and bedsheets.

The raid, headed by officers from the Domestic Trade, Co-ope­ratives and Consumerism Ministry (KPDNKK), also included police offi­cers and personnel from the Com­panies Commission of Malay­sia, CyberSe­curity Malaysia and Bank Negara Malaysia.